Interview highlights
Q1: The Federal Competition and Consumer Protection Act was enacted in 2018 ("FCCPA"), as a young entrant to the competition space, how has the FCCPC prioritized competition enforcement to make the most impact for the Nigerian people?
Florence Abebe and Yemisi Oluyode explained that the management of the FCCPC prioritized a host of interventions:
Limiting disruptions in the market
A joint desk with respect to merger analysis with the Nigerian Security and Exchange Commission.
Published leniency, cooperation, and assistance guidelines.
Created a regulatory roadmap.
Advocacy
The FCCPC prioritized that consumers and businesses, and all market players should understand their role, their responsibilities, and their rights in markets.
Q2: The Nigerian FCCPC prioritizes sensitizing businesses and consumers to their rights and responsibilities. How is this sensitization done?
Florence Abebe highlighted that every tool the FCCPC has in its arsenal is an opportunity for advocacy. She listed the following advocacy tools used by the FCCPC:
Press releases
Engaging the media/journalists through an annual media conference
The FCCPC’s website
Social media
Regulations, guidelines, and guidance notes
Florence Abebe added that the FCCPC has engaged with the judiciary and the Nigerian National Assembly.
Q3: Mergers may in some cases enhance efficiency and may not present competition concerns. But some mergers present competition concerns. What factors does the FCCPC consider in identifying mergers that raise competition concerns?
Yemisi Oluyode itemized key features of merger assessments done by the FCCPC. These include:
Market concentration and market definition analysis including market share calculations.
Barriers to entry
Countervailing buyer power
Vertical integration elements
Foreclosure effects
Efficiencies
Public interest considerations
Florence Abebe added that public interest issues such as the impact of a proposed merger on small and medium enterprises and on employment and innovation are considered.
Q4: Looking at the various developmental challenges Africa faces, as a competition enforcer, would you say there a moral obligation for African markets to be competitive?
Both ladies agree that there is a moral obligation for African markets to be competitive.
Florence Abebe highlighted the need for competitive markets because of inflation and persistent increases in price in Africa.
Yemisi Oluyode highlighted the interesting nexus between sustainable development and competitive markets that promote innovation and sustainability. Africa requires competitive markets to achieve its Sustainable Development Goals by 2030.
Q5: The envisaged supranational AfCFTA Competition Authority would oversee AfCFTA’s competition protocol in the region. What are your initial reactions to having a supranational competition authority in Africa? What should be the first point of call for this authority?
Florence Abebe highlighted that intra-African trade would bolster easier movement on the African continent. Having a supranational Competition Authority is important to provide oversight over anti-competitive conduct which is now cross border such as increased cartel conduct. She highlighted the following challenges that AfCFTA’s supranational authority may face:
Countries such as Nigeria have only recently come up with a competition authority.
Different development stages on the continent.
Integration challenges relating to merger analysis and public interest considerations which differ across African countries.
Florence Abebe advised that AfCFTA needs to focus on integration especially transport infrastructure e.g., aviation, rail, ship to allow free movement. Yemisi Oluyode highlighted the following challenges:
Regional coordination and the different legal frameworks across countries. She gave the example of Nigeria’s BOFIA Act that exempts Banks and Financial Institutions from the applicability of competition law which may not be the case in other African countries.
Merger revenues: National Competition Authorities are dependent on merger filing and processing fees and fines. The challenge AfCFTA faces is how this revenue flow would be structured going forward and whether it would remain in the domain of national competition authorities or with regional authorities, or with AfCFTA’s competition authority.
Yemisi Oluyode advised that AfCFTA’s competition authority should focus on:
Public awareness
Capacity building on competition issues in Africa.
Providing continental competition practice guidelines that national and regional authorities can follow.
Q6: Are there things women should be prepared for when coming into this field? What helps you navigate the competition terrain and prosper in your careers?
The ladies highlighted the following as being essential to career advancement in the field of competition law and economics:
Interest and passion in competition issues.
Self-development.
Plugging into a niche area in the competition space.
Continuous learning.
*The views shared by participants do not reflect the official position of the organizations they are employed by.
Speakers' profiles
Florence Abebe is a Chief Legal Officer at the Federal Competition and Consumer Protection Commission, FCCPC in Nigeria. She is currently deployed to the office of the Executive Vice Chairman (EVC) as a technical and resource personnel. She led the team responsible for drafting, vetting, and publishing of the current competition enforcement framework and guidelines used at the FCCPC. Florence Abebe is the FCCPC's focal person for development partners such as the World Bank Group, UNCTAD, OECD, ICN and ACF and is the Alternate Chairman of the Competition Consultative Committee of the ECOWAS Regional Competition Authority (ERCA). She obtained her degree in Law from the University of Leicester and a postgraduate diploma from Kings College London.
Yemisi Oluyode is a Mergers & Acquisition Analyst at the Federal Competition and Consumer Protection Commission, FCCPC in Nigeria and previously served as a Consumer Services Specialist at the FCCPC. She has a Bachelor of Arts in History and International Relations from Obafemi Awolowo University, Nigeria.
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